What a Solana hack headline does not establish

SOLANA IS HACKED!

Will solana ever be safe?!

WTF!

Another bullshit tweet with no facts and full of vaporwave and lies.

Here’s what’s actually true:

#Upbit lost about 36 to 38M from a compromised hot wallet that held Solana based assets.
#Solana was not hacked.
The Solana blockchain processed valid transactions exactly as designed.

The vulnerability was inside Upbit’s own wallet management, not Solana’s consensus or network security.

Upbit paused all deposits and withdrawals on every chain for a full audit and has already confirmed it will cover 100 percent of all customer losses from its own corporate reserves.

Stolen tokens included SOL, USDC, BONK, JUP, PYTH and others, but again: they were stolen because a CEX hot wallet got compromised, not because Solana broke.

The total loss is reported at ₩54 billion KRW, around 36 to 38M USD based on verified sources, not 56M.
Some funds are already frozen across Solana protocols working with investigators.

So no, this is not “Solana hacked again”.
It’s the same old story:
CEX hot wallet bad opsec leads to theft.
Blockchain processes the withdrawal.
Clueless accounts scream “chain hacked”.

Learn the difference.

- by $MASTR crypto project

Stay CEXless.

At least then, if you lose your money, it’s your own mistake and not because someone else screwed up.

Let’s see if the people affected over there actually get one of the very few advantages a CEX is supposed to have and get their funds refunded.

#Upbit